Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. The Dow surged nearly 1% on Monday while the Nasdaq declined modestly as investors sold tech stocks in favor of other sectors like financials, industrials, and energy. Honeywell hit highs not seen since December 2022. Morgan Stanley and Wells Fargo climbed almost 1% and 2%, respectively. Coterra Energy shot up nearly 3%. All four are Club stocks. “This is what the bears should be most worried about, which is the [market] broadening out,” Jim Cramer said Monday. Nvidia sank roughly 5.5% on Monday, extending the chipmaker’s 4% decline last week. Shares have experienced a series of volatile trading days after briefly dethroning fellow Club name Microsoft as the most valuable publicly traded company in the U.S. The stock could continue to tumble, but it shouldn’t be much of a surprise or concern after its monstrous run since 2023. Nvidia shares were still up over 140% since the start of 2024 even after its recent underperformance. Eli Lilly stock climbed more than 1% on Monday after management late Friday presented positive findings regarding its GLP-1 sleep apnea trial. The data strengthens the case for GLP-1s to be used for obese patients suffering from obstructive sleep apnea. It could help expand payor coverage and further bolster demand for Lilly’s offerings, which are already cleared for weight loss and treatment for diabetes. “Once again, [it’s] better news than expected, but will it continue to make the stock go higher?” Jim asked. Shares of the pharmaceutical giant are already up more than 50% year to date, outperforming the S & P 500’s nearly 15% advance. (Jim Cramer’s Charitable Trust is long NVDA, HON, LLY, MS, WFC, MSFT, CTRA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
